News
Cebu Pacific reports slight revenue dip for latest quarter
November 15th 2024
Cebu Air Inc., parent of Cebu Pacific (CEB), said the LCC group earned year-on-year revenue of P23.1 billion (US$390 million) in the three months to September 30. Read More » Operating income declined to P202 million with the LCC booking a net loss of P173 million for the quarter and flying more than six million passengers in the 90 days. In the first nine months of this year, the LCC’s revenue was P74.5 billion, 11% higher than the matching quarters last year. Operating income declined 8%, to P5.7 billion, and net income slumped 33% to P3.4 billion, the LCC said. CEB transported 17.5 million passengers from last January to September 30, 13% more than a year earlier. “CEB has a unique opportunity to grow when others cannot. Despite the short-term impact on margin development, we will be growing rapidly, creating a robust network across the Philippines to expand and strengthen our market presence,” Cebu Pacific chief finance officer, Mark Cezar, said.
